Property plant and equipment are considered what type of asset?

Q: Who should authorize disposal of fixed assets?

A: Disposal of Fixed Asset: Disposal of fixed asset is a process of selling off the asset whose…

Q: When an item of property, plant, and equipment is disposed of, how is gain or loss on disposal…

A: When an item of property, plant and equipment is disposed of, then gain or loss is determined by…

Q: What is an intangible asset? Provide some examples.

A: Intangible assets: These are the long-term assets which are not physical in nature, but possess…

Q: WHAT IS LEGAL LIFE OF THE ASSET?

A: SOLUTION- LEGAL LIFE OR USEFUL LIFE OF ASSET- AN ASSET LEGAL LIFE IS THE PERIOD OF TIME (OR TOTAL…

Q: How can be Preservation and Maintenance of the Property can be done?

A: Preservation and Maintenance of Property can be done as follows: The borrower of the property…

Q: What are factors to be considered in estimating the usefullife of an intangible asset?

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Q: Define property, plant, and equipment. Provide some examples.

A: Fixed Assets:It refers to the long-term assets having a useful life of more than a year which is,…

Q: A right of use asset is reported as CHOICES   Intangible asset   Investment Property…

A: Right to use assets are those assets which are generated by acquiring right to use the asset for the…

Q: What characteristics of a plant asset make it different from other assets?

A: Assets means anything which will enable a business enterprise to get cash or benefit in…

Q: How should intangible assets and property, plant, and equipment (PP&E) be treated when their service…

A: The Answer

Q: What general procedures are applied in accounting for the acquisition and potential cost allocation…

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Q: what is the definition of Intangible Assets and Goodwill and what are some of the types of…

A: The assets can be classified as fixed assets, current assets and intangible assets.

Q: what is the attributes of determining the far value of intangible assets.

A: A non-physical asset is referred to as an intangible asset. Intangible assets contain goodwill, name…

Q: Why are property, plant and equipment capitalized as an asset and not expensed

A: Property, Plant and Equipment are tangible assets of the business which provides benefit to the…

Q: Define Intangible Assets.

A: Definition:   Assets: These are the resources owned and controlled by business and used to produce…

Q: Is property, plant and equipment is classified as non-current assets?

A: Generally, the liquidity of the assets plays a significant role in determining whether they are…

Q: Explain the concept of VALUE IN USE. Why can it be a basis for recoverable amount of an item of…

A: Value in use means the asset’s net worth for the present time. Value in use is used to take decision…

Q: Define asset impairments.

A: Property, Plant, and Equipment:   Property, Plant, and Equipment refers to the fixed assets, having…

Q: What are some examples of tangible and intangible assets?

A: Introduction:- Assets are mainly categories into two types based on the existence. these are as…

Q: What was the acquisition cost of the equipment?

A: Given the salvage value = 15000 Useful life = 10 years Depreciation for 4th year = 63636 If the…

Q: Explain the reporting and possible depreciation of infrastructure assets.

A: Depreciation: Depreciation refers to the reduction in the monetary value of a fixed asset due to…

Q: Identify the amounts included in the measurement of the right-of-use asset.

A: Following are the amounts included in the right-of-use asset: 1) Lease liability at its initial…

Q: intangible asset (or asset class) that interests you.

A: Intangible assets are Goodwill , parent , Trademark , Copy right , Software etc. I am explaining…

Q: Distinguish between property, plant, and equipment and intangible assets.

A: Definition: Property, plant, and equipment: Property, plant, and equipment are the tangible assets…

Q: Discuss the characteristics, valuation, and amortization of intangible assets.

A: Intangible assets have two main characteristics: (1) Lack physical existence, and (2) Non-…

Q: Identify the following as intangible assets (IA), natural resources (NR), or some other asset (O).…

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Q: Explain the depreciation process and benefits of property, plant and equipment?

A: Depreciation on Property, Plant, and Equipment: It is considered as the charge against the profit…

Q: Compare the financial reporting of investment property with that of property, plant, andequipment

A: As per IFRS, investment property is the property owned only with the motive of earning capital…

Q: definition, recognition, measurement and derecognition of investment property.

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Q: Explain the concept of cost allocation as it pertains to property, plant, and equipment and…

A: Property, Plant & Equipment (PPE) includes the following assets namely: Land Plant and Building…

Q: describe the nature of the assets that compose the following categories: (a) current asset, (b)…

A: In Chart of Accounts we prepare for Current Asset and Non Current Asset. Current Asset consist Cash,…

Q: Explain the process of ‘impairment of an asset’ and its definition? Explain how to account for an…

A: Impairment of assets means reducing the cost of assets when carrying amount is more than value in…

Q: What is meant by the “depreciable cost” of a plant asset?

A: The assets having the life of more than a year can be classified as non-current or plant assets.…

Q: The cost of intangible asset acquired

A: As per IAS 38, Intangible assets are those assets which states the requirements of accounting for…

Q: What does intangible assets includes in its items? Explain them in detail.

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Q: How do you identify intangible assets such as usufruct in modern transactions

A: Goodwill, brand awareness, and proprietary information like as patents, trademarks, and copyrights…

Q: Describe the impairment of property, plant, and equipment and intangible assets

A: The impairment loss could be considered with the time when the assets is not considered valuable in…

Q: Describe the common characteristics of assets classified as property, plant, and equipment and…

A: Assets: It refers to any resource owned by the business. An asset can be tangible or intangible in…

Q: What are the characteristics of an intangible asset?

A: Asset refers to any economic value resource for an individual, corporation or a country. It…

Q: What are the intangible assets? Give some examples?

A: Classification of Assets Assets can be classified in to three categories which are Fixed Assets,…

Q: Assets Classified as Intagible Assets Required: What is the total amount to be recognized as…

A: Intangible Assets Non current assets has two sub part one is tangible assets and another is…

Q: Define Property, plant, and equipment

A: property, plant and equipment: they are company's physical or tangible long term assets.

Q: Analyze the disposal of long-lived tangible assets.

A: The long-lived tangible assets are the fixed assets of the company.